MRAM (Magnetoresistive Random Access Memory) is a non-volatile memory that may utilize MTJ (Magnetic Tunnel Junction) devices, where the state of an MTJ device depends on the magnetic (electron-spin) orientation of its ferromagnetic layers. A STT-MTJ (Spin Torque Transfer MTJ) changes the spin orientation by using a switching current. To achieve high-density MRAM with good thermal stability and low switching current, attempts have been made to develop MTJ devices with a high perpendicular magnetic anisotropy (PMA). In a perpendicular magnetic tunnel junction (p-MTJ) having a free ferromagnetic layer, the orientation of the magnetic field in the free ferromagnetic layer is perpendicular to the interface between the barrier and ferromagnetic layers. It is desirable for a p-MTJ device to have a high tunneling magnetoresistance (TMR), a high PMA, and good data retention.